A war over Taiwan? A clash in the South China Sea? Throw in, too, the danger of a financial crisis sparked by a property crash. There’s no shortage of catastrophes canvassed for China, which, for the moment, haven’t eventuated.

But anyone worried about risk in China should focus their attention elsewhere for the moment, on Beijing’s dogged adherence to COVID Zero – a policy that is strangling the economy and triggering serious unrest.